How intelligent automation is optimizing accounts payable processes for speed, accuracy, and cost.
By Automation Anywhere
Date: 16 Sep 2020
Every year, about 550 billion invoices are generated and exchanged between supplier and buyer organisations. Traditionally, processing these invoices has been a manual, labor-intensive task. Finance professionals spend countless hours comparing invoices against open POs to ensure payment policy compliance.
However, thanks to intelligent automation, that situation is changing. Organisations can now take processes such as accounts payable (AP) and turn them into efficient business functions by automating them end to end. For example, data from invoices can now be accurately processed automatically, freeing up knowledge workers from manually keying in the data as well as other related routine tasks to focus on higher-value projects.
IQ Bot is the only cognitive bot that leverages AI and machine learning to automate invoice processing end-to-end.
- Latest computer vision technology cuts down setup time by 90%
- Machine learning continuously drives down validation costs
- Built-in RPA integration automates processing from invoice to payment
A Fortune 500 high tech company’s business results with IQ Bot.
- 4X faster to setup than intelligent OCR
- 20% of PO processing automated in just 5 weeks
- 100%+ ROI within 3 months